Aggregated News
SACRAMENTO - A panel deciding what benefits California taxpayers will receive from their $3 billion investment in stem cell research agreed Friday to remove a discovery-sharing requirement that the biotech industry vigorously opposed.
Biotech leaders had argued that being forced to freely share their patented inventions with California research institutions could stymie stem cell research by removing financial incentives for companies to get involved.
"We do not want to hurt this industry," said Jeff Sheehy, a member of the intellectual property task force of the state's stem cell agency. "We have a policy that industry has told us will not work for them."
Yet the task force did not give industry leaders everything they wanted. It decided to keep intact requirements that a share of royalties be returned to state coffers, that companies adopt plans to provide access to medical therapies for uninsured people, and that the stem cell agency have the right to suspend exclusive licensing agreements if companies do not make inventions available to the public in a timely manner.
The policy deals only with firms that obtain...
Biotech leaders had argued that being forced to freely share their patented inventions with California research institutions could stymie stem cell research by removing financial incentives for companies to get involved.
"We do not want to hurt this industry," said Jeff Sheehy, a member of the intellectual property task force of the state's stem cell agency. "We have a policy that industry has told us will not work for them."
Yet the task force did not give industry leaders everything they wanted. It decided to keep intact requirements that a share of royalties be returned to state coffers, that companies adopt plans to provide access to medical therapies for uninsured people, and that the stem cell agency have the right to suspend exclusive licensing agreements if companies do not make inventions available to the public in a timely manner.
The policy deals only with firms that obtain...